Arbitrum x JonesDAO

Recorded: Jan. 30, 2024 Duration: 0:51:34

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Hey here AGM
It's so bad, oh so bad
The company I used to
Work for there would be a cool
Well, I guess we got notch up here. Where's uh, mr. Shreddy. He's hanging out with the
Here put the hat on
Shreddy you there. Oh, yeah. Wait. I think can you hear me? I can wait. Do you guys hear me?
Yeah connection issues. We're here now
G all right now in parallel. Can people hear me? Yeah, I think so. Yeah, I can hear you
Then my name is churro I'm the community manager
Oh say sad off chain lab and also an arbitrum
contributor and really excited to host this space with you guys
I'm just gonna know you guys have plenty updates back for first. I want to cover
Some like introductions, right? Cuz um, you know for those in the audience that don't know what Joan Jones now is
maybe you guys can give us the
story behind it and
What you guys have been up to since?
Yeah, sure. So notch do a lot of the BD and product stuff over at Jones
We've been around
For almost well, I guess it's over two years now
Started off kind of exclusively doing work on the option side and over time they've kind of pivoted to
several different types of
several different types of strategies on chain, so
We kind of I guess notably have our GMX
vaults that we do with JGLP and J. O. S. D. C
we've also got
pretty lean
compounder for
Aura that we used
To bring over and incentivize with the arbitrum step. It's a very cool and we are working on something we call Jones labs
Jones labs is kind of our playground to test stuff out and ideas that we're getting close to kind of
formalizing but we still feel like they have some changes and stuff that we want to tweak and things before we
continue to grow and expand them and
It is where we're getting into the managed liquidity space. So the v3 side so what going on and
Yeah, just continuing to build
Cool. Yeah, and we also have one moon with us today
Sure threw me on I don't know if you can hear me. Can you guys hear me?
We do we do. I'm trying to be in a space with you. I'm trying this on PC for the first time
I didn't know Elon Elon added this. Yeah, I feel I feel like we're living in 2069 right now. Yeah
Yeah, exactly. You sound like you're
You sound like you you have some echo no doubt your 5,000 square foot living room. That's exactly right. Yes
The great palace of when moon
Yeah, I don't know like I know you guys have like different strategy bolts
Do you want to cover them just like give an overview like a highlight of what no, not really everybody just shills
Whatever you guys want to cover yeah, I'll definitely tell you about what we've got definitely excited to tell you about what we're working on too
Was kind of our solution
To a problem that that we had where we we wanted to create
Leverage within GLP if folks remember
GMX is LP right and what they do is they use that for perp trading and so it could take
P and L profit and loss from the
70% of the fees that GMX earns are then given to GLP
Holders and that's a system that had been in place for since they're in SEP and
or at least it's a very very early days and
Yeah, they you know, they've grown it a lot over time and since then
You know USDC
JUS DC rather is what we used to power the leverage that goes into
JGLP because we wanted to create something that had kind of the beta of roughly the overall market
But you were getting all those nice GLP
pass-through of fees that GMX collects and so
JUS DC it's been around now for almost a year
Doing really well with it really excited. I'm pretty sure we're definitely well not pretty sure I am sure we're for arbitrums
Excuse me GMX is I guess biggest
vault on JLP and
since then
they've released something called GM and that's kind of their foray into the
perps and also the synthetic side and
You basically create a GM pair by listing. Let's say Bitcoin with
USDC or ETH with USDC, right?
And so effectively what you're doing is you're taking like the long the short cycle like an LP
basically
You're powering both sides of the trade. So if somebody goes long somebody goes short, right?
And then the fees are collected that way so you can sort of owning a basket. What you could do is you can kind of
put things together
To your own type of allocation and go from there
And so one of the things that we're doing we have kind of two steps that we're doing
The first one is that on the JUSDC side we're upgrading that so we're going to be able to work with both J
JLP and our upcoming JGM vault
Which we're working on and hopefully going to be sending to our friends
Over at well, we haven't technically inked the deal yet, but
We're we're sending it to a very trusted audit partner
and uh, we will be sending that out hopefully in a few weeks and
Yeah, I think people are going to really like what JGM is going to be which is going to be something that
And I don't know if we have jojo or anybody else in the audience or how could anybody else from the strat team if you want
Jump up and jam as well. But
basically, it's going to be
kind of a weighted index similar to how
were very familiar with GLP
Uh, the idea is to kind of mimic again, just the kind of rough beta of the overall market
Uh, but since a lot of the volume a lot of the incentives from arbitrum and just you know
Really the focus of GMX is on that side
Uh, we expect that people are going to really enjoy JDM and JUSDC will be powering both. So
really excited about those two and uh, we think that
Honestly, it's it's going to continue to be some of the best fields you can find on chain
Wow, that's that's awesome to be honest like many
many many opportunities for the community here as
As you can hear urban out and as well, uh churro is rejoining because
He's having some technical issues and yeah, too many churros something passed out. Yeah
It's all like caramel and brown sugar and fried dough. That's it. It's over
I got I got fried
We got fried
Yeah, we hear you. Okay, cool. Cool. Because I couldn't hear you sometimes. I think it was
my twitter app
Any such cases
Did he get rugged again he got rugged again, I think he did
Not you made it sound like it was the sketchy initiatives that
I was gonna say this is the future of finding us guys
You made your audit partner sound sketchy, but it's very good
No, no, no, I promise we found them in a dark alley. No, uh, they are
Uh, you'll know who they are when we ink the deal. I just don't want to say it until we actually create them
So just make sure we pay them first
But yeah, we're gonna be making that deal in the next couple days and uh, we'll announce it and as soon as it
It's uh ready to go our partner you're gonna recognize them
Um, we're really excited to be working with them. We've always kind of wanted to work with them, too
So it's nice to tick that box and get to know their methodology. I think it's important to have different audit partners
Get different eyes on your code
especially when you're responsible for
Uh, you know other people's stuff, right? It's important
Since uh since true is having looks like technical I can get anyone still here
I don't think so. So I know but when moon it's up to you
You need to hold up like think you're you're atlas holding up
The entire ama on your shoulders the burden is heavy. I got this. I got this. So that's I believe in you
Nash I think what everyone wants to hear about
From you is your takes on
Stiff, right? I feel like I thought you I thought you're gonna say the shreddies nft project. I'm, sorry
I think I wasn't prepared for that
That said that for the end
But yeah, I mean, um, obviously jones has had received a stiff and has extended its stiff, uh to yes
March I believe
And with that, you know, uh, you're getting
You know a reworked sort of stiff
Emission rate
I know you guys have changed also the way that stinking and stuff works
So maybe do you want to talk a little bit about how how does that work for users now?
How will it change and um, also what do you think about the entire program ltip everything around?
For those that don't know also all those notifications. Those were all when moons, uh matches on tinder going off
This is a standard
It's a standard for when moon just constantly getting
Likes and such so in any case, um, yeah as far as the sip goes
Um, I mean look i've been pretty vocal about how I feel about it. I think i've had a much more positive
View of the overall atmosphere. I think some people
Always kind of want to try and get things to be perfect, but perfect isn't isn't realistic, right?
um, you know, there's no road map there's no playbook for something like this and I think that uh
The thing that arbitrum has always had on its side is the the builders and you can try and
You can try and fake that
By papering over a lot of stuff, but at the end of the day
Builders are going to go where they want to build and where there's a community and um, you know
I'm not saying that those things don't exist other places
But I am saying that there's a reason why arbitrum has been so successful before it ever had a token
So obviously we were very happy to see the first round of sip coming
And I think that the ongoing incentive stuff is really important
I think there's a lot of eyeballs on kind of how things get doled out and where things go
But I think you know as much as we'd like to kind of
Make sure that everything gets in the right hands every time
Um, you know, that's that's quite that's quite ambitious and very difficult to do
but I think that in the scheme of things when you're talking about a protocol that
Or excuse me a foundation and a dow that have as much
available
tokens as they do
Some of these things kind of feel like a rounding error when you start to talk about some of the small numbers that could go out
Look, there's a lot of competition in the space you have optimism foundation that recently kind of
Actually kind of scratched their whole thing and said, you know
We're going to go with a small group that are just going to kind of decide everything
Uh, you have the metis folks that are going to give away a third of what they do
But I think at the end of the day when you go on defy lama and you take a look at what's out there
Where you can build on and like kind of who is going where I think the trend is very clear that arbitrum is
Uh, uh winning this battle and I think we'll continue to win this battle and frankly, um
If people decide that they want to focus on other places and stuff, that's fantastic
I'm very happy for them, but that's just more for us
Uh, and you know, we've been committed to being on arbitrum for some time now. There are opportunities that are
In other chains that you know
We're going to take advantage of and if we can get them on arbitrum
We're going to do it and we did that with ara and I think that we're going to keep doing that with other places
because i've said this before but
When eth is five figures people are priced out of mainnet and there are a lot of places that you're going to want to go
But security is still going to be very important
And so, uh, you need italics said something
I don't know maybe like a month ago
Saying that arbitrum was the closest
To I forget the exact phrase that he used
uh, but to the uh
Stage one type. Thank you stage one
uh as as we've seen and so
I think that
You know, uh tilde are on all this stuff
Uh arbitrum is going to continue to give out tokens as necessary. I think that they've got a huge war chest that they could do this with
And I think that at the end of the day look it's an arms race. Everybody's going to be doing the same thing
That just means that the builders have to out compete each other and I think that competition drives ingenuity
uh, and and new thinking and new thoughts and new ideas in the space and um
Look at jones. We always did stuff that
You couldn't easily fork
That was always the plan right with with jglp you had folks that were doing like delta neutral stuff
You had folks that were trying to exploit different areas of markets for arbitrage
but with us we said well
Look, the market is in a place where we think that there's probably not a lot of downside left. We're not
Astrologists here, but you know
GLP was designed for a market
Or designed in a market rather
Where it performed really well because the market had gone down and you were mostly in stablecoins
Jglp was designed
in a market where
We went from bitcoin 20 000 to where we are now
So I think that what's really important for a lot of folks is having the choice
And so do you want to be able to take advantage of do you think is a bullish market condition?
Or do you want to be more neutral or do you want to be bearish?
And there's something for everybody, right?
Like we were on the line the other day with umami just jamming with them and you know
They've got more of like a neutralized solution
There there's a there's a there's a vault for everybody and I think that ultimately
Having arbitrum kind of come over the top and say look we want to encourage folks
To take advantage of all of these great builders in the field and we're going to effectively subsidize them so that you can
Find a place to park your capital long term
Yeah, I mean I think it's I think it's incredible and I think we're you know, like I said, we're we're quite happy to to be here and
you know friendship and partnership with guys like
you know peter and
You know wen and just you know folks on the foundation side that we've been friends with like we're I think we're just very
We're very happy. We're very pleased to be here and
Yeah, we're just excited to see what uh 24 is
Is going to be it's going to be thematically about
Awesome, so yeah sounds very bullish and uh, one thing I always wanted to quickly correct
You know, arbitrum isn't actually the closest to sage one. It's the only
Current that's true. He did say the only excuse me. Yeah
Just wanted to just wanted to show show that for a second. Okay, but why was he at binance headquarters the other day? What's going on?
Is there who knows? You know, is there are well
Are you are you here to break the news that finance is going to actually join the arbitrum orbit? Is that what we're thinking?
Is that it?
Do it I uh, I have no comment on any any orbit change at the moment, but sure. Are you are you?
Are you here?
My one's like i've had enough of this guy over the chair. I'm here
Hey, chara. Yeah
Yeah, I just wanted to mention real quick. I think like in terms of like competition. I feel like you guys have done
An amazing job in terms of collaborating with other defy projects
Like I see here you guys are also colliding with rodeo
the alamo adventures
Which it looks it looks pretty fun there
So I feel like every time you guys collaborate with any d5 projects out there on arbitrum, you guys are always
Having fun and that's like the true nature. We're big on vibes under here
Yeah, yeah, yeah, so
Yeah, and I wanted to ask about I get the alamo adventures. I mean, what is that about?
It's ready. I don't know if you want to if you want to kind of yeah, I was gonna say I don't know how much i'd like to
reveal for
rodeo, but I think something that like
That you know that you touch we're not gonna get shot in taxes. Are we the alamo? I mean be careful
But you know something that we like to do is very carefully pick collaborators and partners
bunch of arbitrum og's
uh, and I think they represent a subset of
Ecosystem builders that have been supporting us on juscc and you know, hopefully soon on jglp as well
And you know their farms for juscc
Have like consistently been maxed out. So the appetite's been good and I think an alamo is just going to let that be
a greater force basically
um, you'll just be able to
uh, you know
use alamo to
Get you know effectively get the yields from more juscc, which is never a bad thing
Can I can I be thematic here?
So with alamo you're going to be able to wrangle more yield and basically what you're going to be able to do is
Just kind of corral your positions
into this like, you know
Highly levered state that you really have to be a cowboy but at the end of the day, I think
You know, it's all about
All right. I don't have any more actually. I thought you you hit the target. Oh, really? It was a bullseye
It's it was a bullseye and you're spurring on a lot of ideas in my mind. Yeah, you know
I really think I really think it's it's like
you know, there's quite a
it's quite a revolver of
Protocols out there that can do leverage really well
But one thing I was always impressed with with the radio guys was just they had such a clean ui
I remember when I they opened the vault and I was like, oh, let me just go in there and try it out
And it was like within two minutes. It was full. I was like, what the heck? I didn't even get the movement anything
Um, but you know clean ui great guys really fun great marketing. Um, definitely check them out
Definitely pleased to work with them. Um, I know that there are some other partners right now that are considering bringing us on
Uh, one of them has a proposal in their forums right now
It's actually uh, abra, unfortunately that something horrible happened to them today wishing them the best. Uh, romey wicked, uh,
merlin all the guys over there, uh, definitely wishing them the best and uh, you know
Hopefully they're able to recover. I mean they've been around forever. So
Uh, you know all cheers and the best best for them
um, but again, it's it's again, it's important to to
You know as much as you may like jones and as much as you may like what we build
It's always important to take a look at all of the stuff that's out there
Really take a look at the documents really take a look at who they're working with and you know
Don't put all your eggs in one basket, right?
Um, you know, I would never give somebody advice about to do something
But if there's one thing I would give them advice on something not to do
It's just you know, just don't just don't put everything in one place. Just
You know really think about where everything is
Try other stuff out
Um, you know be agnostic to you know
working with
Uh these kind of old ideas think about new ideas sometimes and give things a shot because you might find something you really like
and I think that's part of
Again, that's part of what makes arbors from so special is that we have all these partnerships and we don't really do part
I mean we call them collaborations
But like, you know, we collaborate with everybody and we want to collaborate with everybody because we don't really build alone
Right. No one really builds in the space alone unless you're
You know, I guess unless you're a dex and all you take in is like eth and the usdc
You know, uh, you got to work with people and so you have to have if you're going to work with people you might as well
Have fun about it. And so that's kind of what we've always been about
Was there enough wild western allergies there I think there was
Yeah, you did a really good job, um, and you know on the topic of collaboration
I saw you guys uh collaborated with mr. Shreddy
on the shreddy nft
Okay, let's shrug it. No. Yes
I uh, you know, I was super happy to see this
It who for those listening, it's shreddy behind the hat today. Um under the hat I you know
Under the hat over the hat wherever you want me to go, but I uh, originally we were gonna do
We love pepe's, you know, the jones pepe's is one of my favorite little characters
Um, but we didn't want to get slapped with a uh, you know a random lawsuit for copyright infringement. So
We thought well, what's what's the next? You know most recognizable?
Um character in the jones lore and you know shreddy I think
Comes to most people's mind. Um, and yeah, so we just made a bunch of a bunch of fun
You there they are christmas themed to some extent there are some that are are not and we also have grails
Like one of ones that were made by the lovely new toro and our resonant meme artist beach ball
and if you pull a
Grail, you know, uh good
good on you, um, I
Have a couple myself
Yeah, uh, we've still got some more we haven't you know
Really announced anything about what they will be used for for now
They're just for hanging on your wall or maybe in your bathroom, you know, you can you can stare at me. But um
They're they're they're really cute and you know, they're there's only a few left. So
problem, it was crazy because like uh
They I thought they were gonna min out like immediately and then like the last like 30 or 40 of them just hung around
I was like what yeah, I think it's because everybody's pulled everything that they wanted except me. Yeah, there's still I think three
One of ones last and there's only like yeah, so there's only like I think
50 but it's a seven. It's a seven wallet limit and honestly like after like four or five wallets I gave up
I gave up
But yeah, uh, it's a lot of fun shout out to beach ball though
Launching synonym today really excited for those guys
Awesome crew can't wait till they're hanging out on arbitrum, too. It's gonna be great to work with them
Well on the arbitrum intern is coming
A hundred percent. Yeah. No, you know, I was trying to mentor one on one as well
Sad sad days
the other day we were talking about it and
You know, sometimes i'm like, all right, i'll spin up. I think i'm like i'll spin up a new wallet
I want to grab another one of one and
um, because I did that twice
I just get a good feeling about them and then we were in a call with some of the other marketing guys and uh,
I said, all right. I'm feeling it today. I decided not to and then
uh, you know a couple hours later someone said they minted one single nft and it was a
One of one so I should have just trusted my intuition
That's wild yeah, I minted one and I got
A shreddy with the christmas sweater like one of those ugly christmas sweaters and the christmas hat
Was it fresh? It's actually gorgeous. I don't know what you're talking about. That christmas sweater is divine
Dude, yeah, man
Yeah, I I printed it out and it's on my wall
All right, it's on the hood of my car. I actually made a sticker of it on my
Yeah, it's a bit of a wrap my car with my shreddy nft
I wrapped my house. Dude. We we need we need shreddy shirts
No, we don't don't his head is big enough. Does he really?
Dude, we need shreddy shirts
Too much now when we haven't done jones merch, but when we do we're gonna do it, right?
I'm still waiting for the wen moon body pillow. I was told that was going to come out a while ago. Yeah
I did not hear about this
Yeah, as soon as he actually joined arb I said will this affect my pre-order and he said no
So i'm just waiting
Any minute now man, let me know appreciate it
Um, one thing I do want to talk about though, which I think is it's pretty cool
Is just like the the lp space because I think it's actually really interesting
For those that are not super familiar with what we're doing with lps
If you've ever used uniswap
v2 which is the
You know iteration. I think that most people are familiar with
Your liquidity is in a full range. So basically
Uh liquidity is available at any price point and when that happens that liquidity isn't
necessarily very uh
efficient
When you swap v3, uh came out
They allowed for users to kind of pinpoint exactly where they want to have that liquidity
And what that means is that liquidity within a certain range is going to be much more concentrated
And then when it falls out of that range, it's going to be less concentrated. So there's going to be more price movements
What has cropped up since then?
Is liquidity managers?
Thinking of folks like gamma strategies thinking about uh folks like uh defi edge is one of the providers
We actually are built on top of defi edge because they have infrastructure that you could use their tools
uh, and then we basically
Go out and jones has kind of created our own strategies
And I think that what's interesting and the reason why we got into it is because one I think it's a huge unmet need in
the marketplace
While there are strategies that do exist. I think that where jones is going to try and differentiate itself is
We think that we have a bit of an edge with our people
We've always kind of felt that our difference maker is our strategy team. And so
What we're doing is we're building
Driven strategies. We've got uh one that's public right now and then we have a couple others that we're working on and for different pairs
Right now we're only working with uh chain link and pith oracles, but we're going to be expanding that a bit
uh in the future
And really the goal here though is to just try and show people
Another entrant into that marketplace because we just think that one
part of it that's really a little bit
underserved is actually the protocols because
Managing a v3 position is a huge pain in the butt. I'll go so far as to say that everybody hates managing v3
Which is why managers exist?
Uh, but the manager better be good at what they do. Otherwise, there's opportunities for getting exploited. We've seen that before
A lot of protocols will just say, you know
It will do v3 full range and they just throw their hands in the air and it's inefficient pull protocol and liquidity
And so one of the things that we're going to be doing is actually going and thinking
Of like a b2b a business to business style mindset and saying look
Um, we can develop a custom solution for your poll
But you need to kind of tell us what it is that you want your poll to do for you
There's no right answer for everybody and I think that if you're going to build something special and purpose driven
it needs to be
Something that is unique. It's there's not going to be the right answer the same answer for everybody
Every token has different characteristics. Every protocol has
Certain amount of pull they're comfortable with some have maybe too much
Some maybe have too little
And so things need to be done in a thoughtful way
And then simultaneously building strategies that we feel that the community would benefit from based on those conversations with the protocols
And so we're going to kind of take that mindset
We're going to expand our strategies out
You're going to see a lot more of them in a relatively short order
Uh, you know again, we're building this under the banner of jone labs for now
Uh, but we will eventually move them into the main jones
Ideation and that'll probably happen sometime during summer, but we're really excited about that
And then when you kind of think about you mentioned in the beginning
Just about some of our collaborations and that we always tend to have fun
I think that's one of the main bullish reasons why we're getting into this is because we just feel like we have really good
relationships with people and so
If we have a good relationship with you
Are you more or less likely to take a meeting with us where we talk to you about how we can help you?
And then based on that conversation
Maybe you'll give us a shot. And so if you give us a shot you like what it is. You can move over your poll
Maybe your community likes it. They'll move over their stuff. And if we're doing our jobs if we're
You know building this thing in the right way
Then we feel like our competitive edge is just going to be that
We are aligned from the start with something as important as liquidity
And so doing that, you know, we started off with some pools on cam a lot who obviously we're very close with
Yeah, we're we're going to be expanding that I know we're working on a few I mean I could just mention them
We're working on radiant. We're working on gmx. We're working on winner
We've got a few others in the hopper as well
That we're just kind of behind the scenes tinkering with
you know just to
Throw out a few. I mean we have talked to rodeo as well, right because we're talking about them
You know, we'd love to do something with the guys over, you know, load star things like that because each protocol is challenges, right?
You know, I I think that load star is a good example
They have a model where they're locking up and they give uh eth
Which is going to be I think it's a percentage of their fees that come out and get paid to load lockers
Well, if you're going to look lp
Granted there's always going to be a premium on liquidity, right because people always want to
People always want to balance of liquidity and yield and so
We need to create something that
not only encourages people to come in and lp
and also encourages them to
Take part in our pools that we would be building
Encourages people to buy the token without getting completely wrecked on slippage because there may not be that much out there
But also is simultaneously able to compete
with load
Lockers and any arbitrums that they have on top
So it's a challenge. All right, but it's a challenge that we think we're up to
And so part of that is actually you know, just kind of go behind the scenes a bit
We don't feel like the market actually has a great way of showing you
What your yield is on this thing?
You see numbers in front of you when you see these big numbers on some of these
Concentrated lps, but most people don't really feel it
It's kind of difficult to actually look at your performance and see where you started and so
What we're doing is we're actually working on some more tangible ways that people will actually feel that yield
and that's one of the things that I think we
We need to be able to show folks as well as protocols is hey
Here's the actual value that you're getting out of being a part of these faults. And so
We're always like I said trying to do things a little bit differently
This is an industry where there isn't a playbook. There isn't a
manual for how to show these types of
Rewards on chain and things like that, you know, it's different than if you're
Looking at something very standard and you know, there's an industry standard for it. Like this is defi
This is the wild west. I won't go back to the components there, but
I won't throw you but
Yeah, I think it's I think it's interesting
I think we're going to really surprise a lot of people with this thing and I think that once we get these things out the door
People get a chance to play with them. They're naturally going to then compare them to the rest of the field. They're going to say well
This is something that was missing and maybe it's right for me. And so
That's what we're hopeful of and it's you know, such a big market
That if we only capture even a small percentage of it
We could do very very well. And so that's that's what we're hoping for and uh, we think we're going to get there. So
That's that's kind of our thing. You know, we've got a bunch of stuff on the roadmap
You know a lot of things coming up
Really excited about it. But um, yeah, just excited to kind of share that with the overall community
Yeah, I am super bullish on on you guys and uh the shreddy everyone must feel the shreddy
The spaghetti
Yeah, um and I know that
We're like towards the end of the ama. So I want to give you guys a chance to
share anything else that
The community may want to know like for example
uh, where can they go to learn more about what you guys are building to keep up with
Everything jones dao related to keep up with the joneses
Sorry, I couldn't yeah
Non-americans are like what?
Um, sherry, why don't you tell them where to find us, man? You're the hat. Yeah, if you uh are
Listening live here. You can click on the hat that's currently speaking
uh, which which will bring you to
our twitter
Uh or x whatever you want to call it
And we post a lot of regular updates on here. You can also find a link to our discord. We have a very
vibrant and interesting community
We do have a debank but you know
Uh gotta get better at posting on that, you know
And nacho was thinking about farcaster
What do we what do we think maybe?
Maybe trying something new over there
You're in charge. I just agree
But but uh, yeah, so just uh, you know our twitter and then you can basically find everything there
And then you know from our our site obviously you can check out
All the vaults all the strategies and links to documentation all that good fun stuff
Cool we did. Yeah, we did have a question from our community
That i'll just pitch to notch real quick
Which might be useful. No, it's a good. It's a good one. Uh, basically will there be a one-click migration solution?
For going from jglp to jgm and vice versa
to answer your question, um
It's possible, but I don't think it would be
slippage-free just because of the way that
GLP de-minting works and then
So usually there's I mean it depends on the market, but typically there have been funding
Arbitrages on the gm side so you'll get paid to go into the gm vaults
But then on the jglp side, uh de-minting usually costs you something
This is just what gmx has on their on their site, right? They just take it from futures markets and what they're doing
So technically it could be made
But I don't know if the team is making it but when I get off this call, I will ask ultra
Because I actually think it's um
I think it's it's a good idea
But I will also say that the two are similar but not alike right so like
Jglp and jgm are not the same. They'll feel like the purpose of jgm is to also kind of feel a bit like
Uh jglp but also bear in mind it'll have things in it like solana. I mean
You're talking about different tokens inside jglp has mostly bitcoin and eath and stables
But it also has a sprinkle of chain link and uniswap
Um, you know this one will have solana might have some doge might have some binance
I know that there
Well, i'll leave it to gmx to leak it
But I know there's new pairs coming out that they were nice enough to share with us
Just so that we could start doing math because this stuff takes a while. We have to back test it
and money carlo it so yeah, I think um
ultimately
there is a um
potential to build something like that, but
Um, yeah, I think a zapper might be helpful for a lot of folks that want to
Maybe either diversify or kind of just flip they want to do that
Um, but otherwise even if they did want to move out of one and get to the other it's
I mean, it's not particularly hard, right? You're just hit the
Kind of demint button and then go into the other one, but I understand that
I understand the rationale
Makes sense. We'll talk to the boys about it
Yeah, this is uh
It's been a fun space. But yeah, I appreciate you guys for
Coming on and talking about all developments on your end and super excited for you guys this year to kill it
Yeah, thanks for having us we're you know
definitely excited to be a part of our arbitrum and talk to you guys and uh
the only thing I will say just kind of before we
Please if you're if you're not already part of it
Join the discord. We have something like the best stickers and and emojis
Yeah, if I'm sorry numbers, but that's not the point like just use them because they're freaking hilarious and props to
Beachball and shreddy for ideating on a lot of these and it's oro every now and then when he sees one he wants to make
So join our discord come have fun. Uh, we don't bite
When uh telegram stickers
I do I get asked that so much. Oh my god, I get asked we just we just don't have a telegram
Chat so I haven't made it but I do think it I think it needs to happen
I don't know. I hate the scores more and more every day. So it's certainly
It's certainly possible
The bd chat telegram lets you stick
Dude, when telegram lets you stick more than 10 chats
per folder
Like okay now we're talking but it is crazy like whoever made telegram. It's like it wasn't made for bd. What the heck?
So it was made for degenning
Uh, no comment
No, I'm kidding. I'm kidding. Uh, but yeah, I know thank you both for coming on notch in mr shreddy
And i'll see you guys around
Everybody thanks for having us